SC gives nod to KLCC Property to form
stapled REIT (theedgemalaysia.com, 8th March 2013)
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| KLCC Property to form stapled REIT |
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| Menara ExxonMobil |
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| Menara Petronas 3 |
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KLCC Property Holdings Bhd’s (KLCCP)
proposal to form a stapled real estate investment trust (REIT) has been given
the green light by Securities Commission Malaysia (the SC), subject to several
conditions.
It has been reported that KLCCP plans to
list the REIT in April, which will turn it into Malaysia’s largest REIT in
terms of asset size. KLCC REIT will come with three assets injected into it,
namely Petronas Twin Towers, Menara 3 Petronas and Menara ExxonMobil. With an
asset size of RM15.4 billion, it will be almost three times larger than the
size of Sunway REIT Bhd.
